Lots of credit cards have a points system, but with the double points standard on the American Express Blue Business Plus credit card, a bit of savvy planning can turn out be a huge boon for your small business. And it’s true whether you’re a high flier or it’s a moonlighting gig with a desk that doubles as your dining room table.
Note: Thanks to the team at American Express for partnering with me on this post.
Here’s how it works: every purchase you make up to $50,000 each year earns you double points.
After $50K — which is easy to spend in a year – it’s back to single points, but even then, you could easily keep racking up points if that’s how your business goes through cash.
The deal is that you earn 2x points on every dollar spend up to $50,000 for each calendar year and then 1x points on any purchases thereafter. Whether you’re part of a larger corporation or just working at home in your off hours:
I was thinking about that and the expenses that I run up for my small business and realize that it means I could, for example, buy a new color printer for the office after a single business trip or even get a new laptop after letting those points accumulate for a few months.
Looking back at my 2016 ledger, my business expenses are approximately $4500-$5000/mo. Calculating out points, if I were to have managed even just half of those expenses on the American Express Blue Business Plus card, that would have earned me over 50,000 points. How? $25,000 in transactions is under the $50K annual limit, so I’d earn 2x points.
What can you do with these points? Gift card madness, basically. You can redeem Membership Rewards for all different types of gift cards from merchants like Cinemark, Hertz, Home Depot, Apple iTunes, Staples, Starbucks, or Target.
For example, you can redeem a $50 gift card from Home Depot for 5,000 points If I converted that 50,000 points into Home Depot gift cards, that’d be $500 worth of gift cards! Pick your merchants wisely and those points can translate into a year’s worth of supplies for your office, a nice new tablet computer or, as I suggested earlier, an all-in-one color printer/scanner/copier with backup ink cartridges too.
What I most appreciate about the program is that it’s all incredibly simple and straightforward. All I need to do is get into the habit of pulling out “Old Blue" to pay for transactions, whether I’m picking up a meal tab in Las Vegas, booking a flight to Manhattan or just getting a new iPhone case for my iPhone X. Once enough points accumulate, I can then pop into the member center and purchase gift cards with points.
Now, how does that compare with how your current business credit works and what it’s doing – if anything – to help you grow and equip your business into the future?
Disclosure: This post was sponsored by American Express. All opinions are my own, however.